Former Hospital Property Bid Starts in Millions

Former Hospital Property Bid Starts in Millions

A New York real estate developer has submitted a $16.25 million preliminary bid for a group of former Hahnemann University Hospital properties, including two connected patient towers at Broad and Vine streets that total 630,000 square feet and overlook the Vine Street Expressway. Dwight City Group has entered into an agreement of sale for the properties, but as a stalking horse bidder, its offer sets the minimum price for a scheduled auction on July 16, according to bankruptcy court filings. Competing bids are due by July 11. If successful, Dwight City is considering redeveloping the site into a mixed-use project featuring hotel, residential, and food and beverage components. The Center City assemblage is divided into two groups, with Dwight City offering $10 million specifically for the hospital’s North and South towers.

\*Article courtesy of The Philadelphia Business Journal

For more information about Philadelphia medical space for sale or lease or about any other Philadelphia properties for sale or lease, please contact WCRE at 215-799-6900.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier Philadelphia medical commercial real estate broker that provides a full range of commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other Philadelphia commercial properties for buyers, tenants, investors, and sellers.

Please visit our website for a full listing of commercial properties for lease or sale, www.wolfcre.com.

Penn Medicine Breaks Ground on $224M Proton Center

Penn Medicine Breaks Ground on $224M Proton Center

Penn Medicine broke ground Monday on its planned $224 million Roberts Proton Therapy Center in University City, expected to open in late 2027 at Penn Presbyterian Medical Center.

The facility will be Penn Medicine’s fourth proton therapy center, joining locations at the Perelman Center (opened in 2010), Lancaster General Health (2022), and Virtua Voorhees (2023, in partnership with Virtua Health). It will offer advanced radiation therapy for cancer patients.

*Article courtesy of The Philadelphia Business Journal

For more information about Philadelphia medical space for sale or lease or about any other Philadelphia properties for sale or lease, please contact WCRE at 215-799-6900.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier Philadelphia medical commercial real estate broker that provides a full range of commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other Philadelphia commercial properties for buyers, tenants, investors, and sellers.

Please visit our website for a full listing of commercial properties for lease or sale, www.wolfcre.com.

Medical Building in KOP Sold for 64% of Previous Price

Medical Building in KOP Sold for 64% of Previous Price

When the Merion Building in King of Prussia hit the market, Ilya Hvostikov knew it was a must-buy. The vice president of acquisitions at Florida-based Onicx Group, and a Philadelphia local, saw the value in the 71,800-square-foot medical office property at 700 S. Henderson Road.

Hvostikov convinced Onicx to buy the building for $11.8 million from American Healthcare REIT, marking the firm’s first investment in the region. The Merion Building, located at the prominent intersection of South Gulph and South Henderson roads near Gulph Mills Golf Club, offers high visibility from I-76.

The property sold at a significant discount from its last sale price of $18.5 million in 2015. At that time, it was 98% leased. Today, occupancy has dropped to 75%, with Main Line Spine as the anchor tenant, occupying approximately 19,000 square feet.

*Article courtesy of The Philadelphia Business Journal

For more information about Philadelphia medical space for sale or lease or about any other Philadelphia properties for sale or lease, please contact WCRE at 215-799-6900.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier Philadelphia medical commercial real estate broker that provides a full range of commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other Philadelphia commercial properties for buyers, tenants, investors, and sellers.

Please visit our website for a full listing of commercial properties for lease or sale, www.wolfcre.com.

Penn Medicine Begins $270M Outpatient Center on Route 202

Penn Medicine Begins $270M Outpatient Center on Route 202

Penn Medicine has begun construction on a $270 million, 162,000-square-foot outpatient center at 200 DeKalb Pike in Montgomeryville. Scheduled to open in late 2027, the new facility will bridge a geographic gap in Penn’s outpatient network between its Radnor center and newly acquired Doylestown Hospital.

The center will offer a wide range of services, including radiation oncology and chemotherapy through the Abramson Cancer Center. Additional specialties will include primary care, cardiology, orthopedics, neuroscience, women’s health, and surgical consultations.

Penn’s outpatient network spans locations in Philadelphia, surrounding Pennsylvania regions, and New Jersey, including Cherry Hill, Mount Laurel, and Woodbury Heights.

*Article courtesy of The Inquirer

For more information about Philadelphia medical space for sale or lease or about any other Philadelphia properties for sale or lease, please contact WCRE at 215-799-6900.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier Philadelphia medical commercial real estate broker that provides a full range of commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other Philadelphia commercial properties for buyers, tenants, investors, and sellers.

Please visit our website for a full listing of commercial properties for lease or sale, www.wolfcre.com.

Penn Medicine In Talks to Save Crozer Health

Penn Medicine In Talks to Save Crozer Health

Efforts to sell Crozer Health took several unexpected turns in the past 24 hours, with a new lawsuit quickly withdrawn and news emerging that Penn Medicine is working behind the scenes to help save the struggling health system.

These developments follow Crozer’s parent company, Prospect Medical, reporting in U.S. Bankruptcy Court Wednesday that it is making “good progress” in talks to sell the Delaware County health system to a nonprofit provider. During an emergency hearing Thursday, attorneys for the Foundation for Delaware County, which had filed the lawsuit, requested an update from Penn Medicine on its efforts to assist Crozer Health, though Penn Medicine representatives were absent.

*Article courtesy of Philadelphia Business Journal

For more information about Philadelphia medical space for sale or lease or about any other Philadelphia properties for sale or lease, please contact WCRE at 215-799-6900.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier Philadelphia medical commercial real estate broker that provides a full range of commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other Philadelphia commercial properties for buyers, tenants, investors, and sellers.

Please visit our website for a full listing of commercial properties for lease or sale, www.wolfcre.com.

Rare Medtail Location at Westgate Mall

2285 Schoenersville Road Bethlehem, PA 18017

Wolf Commercial Real Estate, the leading commercial real estate and advisory firm in Pennsylvania has been appointed the exclusive listing agent for 2285 Schoenersville Road, Bethlehem, PA 18017. The Bethlehem property is available for lease.

The property holds +/- 13,416 square feet on the second floor for medical users.

Features of 2285 Schoenersville Road

2285 Schoenersville Road has a dedicated elevator lobby and dedicated staircase access. Onyx Equities has plans to transform the center with multi-million dollar renovations. The property sits at two signalized intersections with daily traffic counts of over 43,000 cars and shadows Lehigh Valley Hospital Muhlenberg. Building signage is an added benefit to this rare medtail wing.

For more information about the lease price or a tour of the medtail space, please contact Kim Kretowicz, Vice President, at (856) 857 6300 or via email kim.kretowicz@wolfcre.com or Todd Monahan, Executive VP & Managing Director, at (215) 799 6145 or via email todd.monahan@wolfcre.com or Joe Fox, Senior Advisor, at (215) 799 6900 or via email joseph.fox@wolfcre.com. To review the brochure, please click here.

Wolf Commercial Real Estate is a full-service CRE brokerage and advisory firm with a full range of commercial real estate listings and services. The firm handles a variety of properties including medical, office, industrial, retail and investment. WCRE represents buyers, landlords, investors, tenants and sellers and also provides property management services. For a full list of buildings and suites that are available for sale or lease, visit www.wolfcre.com.

Local Real Estate Family Gifts $50M to CHOP for New Research Tower

Local Real Estate Family Gifts $50M to CHOP for New Research Tower

Children’s Hospital of Philadelphia receives $50M gift for new South Street research building, now named the Morgan Center for Research and Innovation, in honor of Mitchell L. Morgan, Hilarie L. Morgan, and family.

*Article courtesy of Philadelphia Business Journal

For more information about Philadelphia medical space for sale or lease or about any other Philadelphia properties for sale or lease, please contact WCRE at 215-799-6900.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier Philadelphia medical commercial real estate broker that provides a full range of commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other Philadelphia commercial properties for buyers, tenants, investors, and sellers.

Please visit our website for a full listing of commercial properties for lease or sale, www.wolfcre.com.

Penn Medicine Acquires Montgomeryville Site for $7.5M

Penn Medicine Acquires Montgomeryville Site for $7.5M, Proposing Construction of an Outpatient Care Center

Penn Medicine recently finalized the acquisition of a 12-acre plot in Montgomery County for the development of a state-of-the-art multi-specialty outpatient care center.

The purchased land, situated at 200 Dekalb Pike, amid Welsh and Knapp roads within Montgomeryville’s boundaries in Montgomery Township, was procured from HRD Investments LLC, according to county property records.

Previous presentations made by Penn Medicine to Montgomery Township officials had outlined their intentions for this specific site

*Article courtesy of Philadelphia Business Journal

For more information about Philadelphia medical space for sale or lease or about any other Philadelphia properties for sale or lease, please contact WCRE at 215-799-6900.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier Philadelphia medical commercial real estate broker that provides a full range of commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other Philadelphia commercial properties for buyers, tenants, investors, and sellers.

Please visit our website for a full listing of commercial properties for lease or sale, www.wolfcre.com.

Rothman Orthopedics to Consolidate and Relocate Center City Headquarters

Rothman Orthopaedics to Consolidate and Relocate Center City Headquarters

Rothman Orthopedic Institute is consolidating its Center City presence and relocating its headquarters one block east on Chestnut Street.

The move will put administrative offices and clinical space under one roof, with a total of about 68,000 square feet all at 833 Chestnut St. Rothman expects to make the move in spring 2024.

In its current set up, Rothman has 40,000 square feet at 925 Chestnut St., mostly made up of clinical space, and 34,000 square feet at 833 Chestnut St., mostly made up of administrative office space. Rothman has spent at least the past quarter-century at 925 Chestnut St., also known as the Old Federal Reserve Bank Building.

*Article courtesy of Philadelphia Business Journal

For more information about Philadelphia medical space for sale or lease or about any other Philadelphia properties for sale or lease, please contact WCRE at 215-799-6900.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier Philadelphia medical commercial real estate broker that provides a full range of commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other Philadelphia commercial properties for buyers, tenants, investors, and sellers.

Please visit our website for a full listing of commercial properties for lease or sale, www.wolfcre.com.

Medical Office Suites Available for Lease at Prominent Rodin Place, Philadelphia

Rodin Place, 2000 Hamilton Street, Philadelphia, PA

Wolf Commercial Real Estate (WCRE) is thrilled to announce that it has been appointed as the exclusive leasing agent for the prestigious Rodin Place, located at 2000 Hamilton Street in Philadelphia, Pennsylvania.

Strategically nestled within the vibrant and culturally rich neighborhoods of Fairmount and the Art Museum of Philadelphia, Rodin Place stands as an exceptional destination for healthcare professionals seeking modern office spaces.

Designed with both functionality and aesthetics, Rodin Place offers contemporary, state-of-the-art medical office spaces ranging from 1,150 square feet to 6,503 square feet, that are ideally situated to accommodate a wide range of healthcare practices. This unique opportunity not only provides secure parking but also features 10 Tesla Supercharger stations. Additionally, the property is conveniently located in proximity of two national retailers, Target and Whole Foods, enhancing the overall accessibility and appeal of the location.

New medical office tenants at Rodin Place will join the esteemed establishments such as, Philadelphia Pediatric Dentistry, Advocare Fairmount Pediatrics & Adolescent Medicine, Wills Eye Physicians, Clementine Montessori and Neurabilities Healthcare, forming a dynamic and collaborative medical community.

“As the exclusive leasing agent for Rodin Place, we are excited to offer healthcare professionals a remarkable space that combines prime location with cutting-edge facilities,” said Todd Monahan, Executive Vice President and Managing Director at WCRE. “We believe this is a rare and unique opportunity for medical practitioners to establish prominent presence within an environment that fosters innovation and excellence.”

For more information and to schedule a tour, please contact Todd Monahan, Executive Vice President and Managing Director, at todd.monahan@wolfcre.com, or Bethany Brown, Vice President, via bethany.brown@wolfcre.com at Wolf Commercial Real Estate.

WCRE is a full-service commercial real estate brokerage and advisory firm specializing in office, retail, medical, industrial and investment properties in Southern New Jersey and the Philadelphia region. We provide a complete range of real estate services to commercial property owners, companies, banks, commercial loan servicers, and investors seeking the highest quality of service, proven expertise, and a total commitment to client-focused relationships. Through our intensive focus on our clients’ business goals, our commitment to the community, and our highly personal approach to client service, WCRE is creating a new culture and a higher standard. We go well beyond helping with property transactions and serve as a strategic partner invested in your long-term growth and success. For more information, visit our website, www.wolfcre.com.